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French Day-Ahead Spot Falls to Lowest in Europe on Low Demand, High Nuclear

POWER
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The French day-ahead base-load contract was down on the day amid reduced power demand over the weekend – hitting the lowest power price in Europe. Wind output over the weekend and on Monday in France and Germany is expected to be low but is forecast to pick up on 21-22 May, which could weigh on power prices on delivery.

  • The French day-ahead spot closed at just €27.20/MWh from €43.27/MWh in the previous day.
  • The German day-ahead spot settled at €55.80/MWh, down from €69.01/MWh in the previous day.
  • French wind output is expected between 1.3-1.53GW over 18-19 May, before increasing to 2.3-5.7GW over 20-22 May.
  • French nuclear generation stood at 40.546GW as of this morning 8:30 CET, up from the five-day moving average of 40.142GW, RTE data showed.
  • The 1.33GW Paluel 3 and 905MW Chinon 1 nuclear plants will return on 17 May, according to Bloomberg.
  • But French utility EdF will reduce the 915MW St. Laurent 2 nuclear reactor output on 17 May – brought forward from 21 May. The unit will run at 120MW of capacity until 21 May, according to Bloomberg.
  • The latest ECMWF 6-9 day weather forecasts suggested maximum temperatures in Paris to reach 23 °C, unlikely to significantly boost demand for electric cooling.
  • German wind output is expected at 5.46-11.96GW over 18-19 May, before falling to 4.47GW on 20 May. But wind output will rise to about 15-23GW over 21-22 May, according to Spot Renewables.
  • German power demand is forecast to average between 38,21-45.39GW over 18-19 May, down from 52.33GW on Friday, data from Entso-E show. Demand will then increase between 43.2-53.2GW over 20-22 May.
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The French day-ahead base-load contract was down on the day amid reduced power demand over the weekend – hitting the lowest power price in Europe. Wind output over the weekend and on Monday in France and Germany is expected to be low but is forecast to pick up on 21-22 May, which could weigh on power prices on delivery.

  • The French day-ahead spot closed at just €27.20/MWh from €43.27/MWh in the previous day.
  • The German day-ahead spot settled at €55.80/MWh, down from €69.01/MWh in the previous day.
  • French wind output is expected between 1.3-1.53GW over 18-19 May, before increasing to 2.3-5.7GW over 20-22 May.
  • French nuclear generation stood at 40.546GW as of this morning 8:30 CET, up from the five-day moving average of 40.142GW, RTE data showed.
  • The 1.33GW Paluel 3 and 905MW Chinon 1 nuclear plants will return on 17 May, according to Bloomberg.
  • But French utility EdF will reduce the 915MW St. Laurent 2 nuclear reactor output on 17 May – brought forward from 21 May. The unit will run at 120MW of capacity until 21 May, according to Bloomberg.
  • The latest ECMWF 6-9 day weather forecasts suggested maximum temperatures in Paris to reach 23 °C, unlikely to significantly boost demand for electric cooling.
  • German wind output is expected at 5.46-11.96GW over 18-19 May, before falling to 4.47GW on 20 May. But wind output will rise to about 15-23GW over 21-22 May, according to Spot Renewables.
  • German power demand is forecast to average between 38,21-45.39GW over 18-19 May, down from 52.33GW on Friday, data from Entso-E show. Demand will then increase between 43.2-53.2GW over 20-22 May.